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Internal and External Environment Quiz
What does short termism mean?
Apple’s core competency is?
Internal and External Environment Quiz
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StudBud Administration
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A Level Business Quiz
Flashcards
20 cards
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Questions
20
Answers
1
Apple’s core competency is?
Price
Apple shop
Smart phone
Customer service
2
What does short termism mean?
Pressure for quick results over long-term growth.
Pressure for quick results over short-term growth.
Pressure for long term results over short-term growth.
Pressure for quick results at A Level
3
A benefit of investment appraisal is?
Allows comparison
Easy to complete
Very accurate
Takes a long time
4
Businesses are cautious and respond with functional decisions to meet rising demand in a...
Recession
Boom
Slump
Recovery/Upswing
5
Receivable days are?
Designed to calculate how long it takes to collect its debts
Designed to calculate how long it takes to pay its debts
Designed to calculate how long it takes to create debt
Designed to calculate how long it takes to break even
6
The three financial methods used in investment appraisal are?
ARR, NPW, Payback
ARR, NPV, Payback
ARR, NPV, Payoff
APR, NPV, Payback
7
Elkington’s triple bottom line refers to…
Profit, People, Planet
Planet, People, Price
Product, Price, Place
Profit, People, Place
8
The difference between a strategy and tactic is?
Strategy focuses on external, tactic focuses on internal
Strategy focuses on short term, tactic focuses on long term
Strategy focuses on finance, tactic focuses on marketing
Strategy focuses on long term, tactic focuses on short term
9
One benefit of using CAD is
Lower costs in design
Motivation is boosted for workers
More faults in production
Lower profits for the business
10
In the short run deflation can be good because..
Your rivals may go out of business
Deflation is better than inflation
It may provide a boost to spending in the economy
People are made redundant saving the business money
11
Work out payback, investment £10,000, Net cash flow, Yr1: £3000, Yr2: 6000, Yr3: £9000
2 years 3 months
2 years 1.3 months
2years 1 month
2years 13 months
12
How many member states does the E.U currently have?
27
29
26
28
13
Work out the current ratio: Current assets: £34,650 Current liabilities: £53670
1:65
1:650
1:0.65
1:6.5
14
What is a strategic decision?
Short term, major commitment of resources, easy to reverse.
Long term, a major commitment of resources, hard to reverse.
Short term, Major commitment of resources, hard to reverse.
Long term, major commitment of resources, easy to reverse
15
Which Element of Porters 5 Forces is missing?
Threat of Market Leaders
Competitive Power
Threat of Substitutes
Threat of Existing Products
16
A UK firm sells goods in the US. A Fall in the value of the Pound will...
Lower Revenue from US Sales
Increase Revenue from US Sales
17
Which of the following is a key feature of an economic "Slump"
Increased number of new products available for consumers
Lower Levels of Unemployment
Increased number of bankruptcies
Increase spending by consumers
18
The main purpose of Health and Safety Legislation is to...
Protect business from industrial action
Lower business costs
Reduce competition in the Pharmaceutical market
Discourage dangerous business practices and protect workers
19
This model is...
Ansoff Decision Matrix
Maslows Hierarchy of Needs
Carrolls CSR Pyramid
Elkingtons Triple Bottom Line
20
Which of the following is a benefit of Industry regulation
Political Bias
High barriers to entry for new entrants
Adverse publicity if fined by a regulator
Creates a stable long term business environment
